Paycom CEO Chad Richison Buys ‘Il Pelicano’ Mansion

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”Il Pelicano,” an Amalfi Coast-inspired Malibu property featured in Netflix’s “Selling Sunset” TV show, is officially off the market, according to Variety. It was bought by Chad Richison, “founder and chief executive of payroll processor Paycom and one of Oklahoma’s richest men,” for $26.5 million, which is less than half its original listing price of $57.5 million (listed around two years ago). 

The property overlooks the ocean, sitting on a rocky knoll above a small beach. 

“The secluded estate featured little more than a bedraggled beach shack atop the rocks” when skincare entrepreneur Liz Edlich and trial attorney Dale Kinsella bought the place in 2000 for $2 million, Variety reported.”Over the next 12 years, the couple received permits and built their dream home: a two-story, 3,800-square-foot home that manages to blend in with its natural surroundings.”

The home is filled with details from around the globe including antique doors from France, imported stone from Italy, a hand-carved ceiling from Sri Lanka, a chandelier made of a fossilized Amazonian jungle vine and a sink made of a fossilized clam shell. The location is far from any neighbors, thanks to a “maniacally long and steep driveway” that leads from PCH. 

Richison’s $3.6 billion net worth, according to Forbes, comes from his online payroll processing start-up Paycom, which he founded in 1998. Variety reported that Richison’s main home is in Oklahoma City, while he also has a vacation home in Florida.